Silgan Holdings Q2 Adj. EPS Meets Estimates

(RTTNews) - Silgan Holdings Inc. (SLGN) Wednesday announced decline in second quarter net income to $42.2 million from $44 million last year. Earnings per share increased to $0.70 from $0.69 last year. On an adjusted basis, earnings came in at $0.71 per share, compared to $0.73 per share last year.

On average, 12 analysts polled by Thomson Reuters expected the company to earn $0.71 per share. Analysts estimates usually exclude special items.

Net sales for the quarter was slightly down 0.3 percent at $914.2 million, compared to $917.3 million in the prior year. Wall Street was looking for $882.39 million. Net sales in the closures and plastic container businesses declined due partly to the impact of unfavorable foreign currency translation, while metal container business recorded a growth.

Further, the company confirmed adjusted earnings outlook for full year 2015 in a range of $3.10 to $3.30. Street is expecting $3.18 per share. For the third quarter, the company expect adjusted earnings in the range of $1.35 to $1.45 per share. Analysts expects $1.39 per share.